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Finance

India's e-payment services boom on bank note ban

Modi's move could spur evolutionary leap to cashless society

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A line of people wait in front of a bank to exchange 500- and 1,000-rupee notes after the ban on these bills was announced.   © Reuters

NEW DELHI -- Indian Prime Minister Narendra Modi's surprise move to withdraw high-denomination rupee notes has delivered a blow, at least temporarily, to most Indian industries. But one conspicuous exception is providers of electronic payment services. 

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